Asia: Gold, USD, Crude Oil, Stocks & Commodities

Asia: Gold, USD, Crude Oil, Stocks & Commodities

$GLD,$SLV,$USD,$USO,$OIL,$SOY,$CORN,$WEAT

FLASH: Gold Down, USD Up, Crude Oil Down, Stocks Eased

Note: This week the world’s investors are focused on geopolitical events and big bank earnings.

President Trump threatened to impose tariffs on $11-B worth of European Union products, heightening tensions over a long-running transatlantic Airbus subsidy dispute.

European Union leaders gave Britain six more months to leave the bloc, more than Prime Minister Theresa May says she needs but less than many in the bloc wanted, thanks to fierce resistance from France.

In Asia

Gold: Gold off a bit Thursday, but was trading close to a 2-week high scaled in the last session as Dovish Fed and European central banks fanned concerns on economic slowdown and kept global bond yields and the Buck under pressure.

  • Spot gold was down 0.1% at $1,307.05 oz as of 0522 GMT,
  • US gold futures were down 0.2% at $1,311.10 oz.

.DXY trading near a 2-week low touched in the prior session after the Fed’s mins cemented its Dovish policy stance amid risks of global economic slowdown.

Energy: Crude Oil prices fell Thursday, pressured as US stockpiles surged to their highest levels in almost 17 months on record production and as economic concerns cast doubt over growth in demand for fuel.

  • ICE Brent Crude Oil futures were at $71.44 bbl at 0424 GMT, -29c, or 0.4%, from Wednesday’s London close,
  • WTI Crude Oil futures were at $64.28 bbl, -33c, or 0.5%, from their prior NY settlement

US Crude Oil inventories rose 7-M bbl to 456.6-M bbl in the last week, their highest since November 2017, the Energy Information Administration said Wednesday.

Equities: Asian faded from near 8-month highs Thursday and USD eased as the ECB and Fed reinforced investor worries about the global economic outlook and trade protectionism.

MSCI’s broadest index of Asia-Pacific shares sans Japan slipped 0.3% after 4 straight days of gains took it to the highest since last August.

Chinese shares were subdued with the blue-chip CSI300 off 1% while Hong Kong’s Hang Seng index off 0.6%.

Australian shares also lost ground, pressured by political uncertainty after the country’s PM called a national election for 18 May.

Japan’s Nikkei fell 0.3% as JPY strengthened.

Those expectations helped European and US shares overnight. On Wall Street, the S&P 500 added 0.35%, the NAS Comp climbed 0.7% while DJIA was flat.

Currencies: .DXY fell for a 4th day running to 96.931 Vs a basket of peer currencies.

EUR was higher at $1.3099 after EU leaders agreed to extend the deadline for UK to leave the single currency bloc at end of October, averting a potential crash out of the bloc Friday with no-deal.

GBP has stayed in a triangle holding pattern between $1.2945 and $1.3380 during the past month or so.

Commodities(quotes): Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »63.33 USD+0.25+0.39%Apr 191:34AM EDT
ICE Brent Crude »70.62 USD+0.28+0.40%Apr 191:33AM EDT
NYMEX RBOB Gasoline »1.98 USD+0.01+0.62%Apr 191:30AM EDT
Dubai Crude Spot »70.13 USD+0.28+0.40%Dec 021:44AM EDT
ICE Gas Oil »625.25 USD+7.25+1.16%Apr 191:29AM EDT
NYMEX No2 Heating Oil »2.05 USD+0.01+0.26%Apr 191:34AM EDT
NYMEX Nat Gas »2.68 USD+0.01+0.49%Apr 191:34AM EDT
ICE NBP Nat Gas »41.09 GBP+0.000.00%Apr 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,296.54USD+5.24+0.40%Dec 021:49AM EDT
COMEX 100oz Gold »1,293.40USD+3.00+0.23%Apr 199:04PM EDT
Silver Spot »15.09USD+0.01+0.07%Dec 021:48AM EDT
Platinum Spot »905.70USD+10.70+1.18%Dec 021:49AM EDT
Palladium Spot »1,372.56USD+2.56+0.19%Dec 021:49AM EDT
COMEX Copper »2.89USD+0.000.00%Apr 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »362.75USC+0.25+0.07%May 191:43AM EDT
CBOT Wheat »463.75USC-4.00-0.86%May 191:43AM EDT
KCBT Wheat »428.75USC-2.50-0.58%May 191:39AM EDT
MGE Spring Wheat »524.00USC+1.50+0.29%May 191:33AM EDT
Euronext Milling Wheat »189.25EUR+0.000.00%May 1912:29PM EDT
CBOT Soybean »902.00USC+3.00+0.33%May 191:43AM EDT

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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